Current Affairs Quiz-September, 2020

Notes:
Funds above Rs.7,00,000 sent abroad under RBI’s Liberalised Remittance Scheme would be subjected to 5% Tax Collection at Source.
This is under the Finance Act 2020 and would come in to force from 1st October 2020. On payments above Rs.700,000, the TCS will apply on the amount above this threshold. The TCS is not applicable for buying a tour package.

Notes:
The National Fertilizers Limited is a Mini Ratna PSU under the Ministry of Chemicals and Fertilizers. It is head quartered at Noida.
Recently, it is in news because, it has surpassed its productions targets by producing 16.11 Lakh MT of urea in first 5 months of 2020-21. This figure is 13% higher compared to the production made by the company during the same period of previous year.

Notes:
The Small Industries Development Bank of India (SIDBI) has signed a memorandum of understanding (MoU) with the Rajasthan government to develop the MSME ecosystem in the state.
This is the initiative of the Department of Industries, Rajasthan to provide financial and technical support to MSMEs in the state. The state has also amended the MSME Act to promote industries and exempt businesses from permissions and inspections for three years.

Notes:
A new study published in the Journal of Steroid Biochemistry and Molecular Biology has found that Vitamin D supplements can decrease the rate of ICU admissions due to Covid-19.
The vitamin is found to be stimulating immune responses against various diseases including the novel coronavirus. The study was conducted on 76 patients who tested positive for Covid-19 in Spain. The patients who received the supplement were discharged without complications.

Notes:
Security and Exchange Board of India (SEBI) has proposed to revamp its IT infrastructure network and communication systems.
Also, SEBI has proposed to have a centralised control over its network. In this regard, SEBI has shortlisted 8 companies which includes Bharti Airtel, Wipro, TCS, HP, IBM, NTT India, Orange Business Services India Technology and Sify Technologies.

Notes:
Marathi language movie ‘The Disciple’ has won the Best Screenplay award at Venice Film Festival. The film is directed by Chaitanya Tamhane.
The movie describes the personal and professional experiences of a Hindustani classical singer. It also bagged the prestigious FIPRESCI award. “Nomadland”, directed by Chloe Zhao won the “Golden Lion” award in the file festival.

Notes:
UN Day for South- South Cooperation is observed every year on September 12.
South-South cooperation is a manifestation of solidarity among countries of the South which aims to attain various development goals. It marks the 42nd anniversary of the 1978 adoption of the Buenos Aires Plan of Action for Promoting and Implementing Technical Cooperation among Developing Countries.

Notes:
According to the Asian Development Bank, Asia’s economy will contract for the first time since the early 1960s.
The bank had earlier projected that the GDP would grow by 0.1 per cent. Now, it is estimated that Asia’s GDP would decline by 0.7 per cent in 2020 and would increase to 7.7 per cent in 2021. It also highlighted that the GD in India would contract by 9% this year.

Notes:
Oracle has been chosen by TikTok to be its trusted technology provider in USA. In the acquisition battle between Microsoft and Oracle, Oracle has taken a lead.
President Donald Trump claimed that the USA’s Tik Tok user data are siphoned to Chinese authorities. The US administration ordered ByteDance, the parent company of Tik Tok to sell its U.S. business.

Notes:
Kerala State Electronic Development Corporation (Keltron), owned by the Government of Kerala, is set to manufacture commercially available Ventilators.
The corporation has signed a pact with Society for Bio Medical Technology (SBMT) under the Defence Research Development Organisation (DRDO) for technical expertise in ventilator production.